Please Help, Accounting Treatment for Books?

[anonymer]

I work at a school which has just started its operations last year. they told me to make a balance sheet. my problem is:

I don't know how to treat the Library Books we purchased. Will they be treated as Inventory (although they are not for sale)?, Or will they be treated as Depreciable Assets (i haven't seen Books classified as Property, Plant and Equipment, but they do depreciate, right)? or other. Please help me, i don't know.

Thanks

 

[kirby]

I have seen the "regular" books recorded as a 10 year depreciable asset. If you have a "special" collection ( rare books) then those typically are not depreciated.

 

[anonymer]

thanks kirby.